What is the gross potential annual income of a 29-unit apartment building that rents each unit for $475/month with an 8% vacancy rate?

To determine the gross potential annual income of the 29-unit apartment building with each unit renting for $475 per month, you would first calculate the monthly income without factoring in vacancies.

Calculating the total monthly income involves multiplying the number of units by the monthly rent:

29 units x $475/month = $13,775/month.

Next, to find the annual income, multiply the monthly income by 12 months:

$13,775/month x 12 months = $165,300/year.

This figure represents the total potential income the building can generate when fully rented without any vacancies. It's important to note that the consideration of an 8% vacancy rate would typically come into play when calculating effective gross income, which adjusts for expected losses due to vacancies. However, the question specifically asks for the gross potential income, which does not factor in vacancies. Hence, the calculation confirms that the gross potential annual income is indeed $165,300.